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In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
Telekom Malaysia Bhd's Net-Net Working Capital for the quarter that ended in Mar. 2026 was RM-1.38.
The industry rank for Telekom Malaysia Bhd's Net-Net Working Capital or its related term are showing as below:
XKLS:4863's Price-to-Net-Net-Working-Capital is not ranked *
in the Telecommunication Services industry.
Industry Median: 8.23 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Telekom Malaysia Bhd (XKLS:4863) Net-Net Working Capital Explanation
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.
Telekom Malaysia Bhd Net-Net Working Capital Related Terms
Telekom Malaysia Bhd Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Telekom Malaysia Bhd's Net-Net Working Capital can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Telekom Malaysia Bhd Net-Net Working Capital Chart
XKLS:4863 vs VZ, TMUS, T: Net-Net Working Capital Comparison
For the Telecom Services subindustry, Telekom Malaysia Bhd's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Telekom Malaysia Bhd Price-to-Net-Net-Working-Capital vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Telekom Malaysia Bhd's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Telekom Malaysia Bhd's Price-to-Net-Net-Working-Capital falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.
In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
This is a conservative way of estimating the company's value.
What does a Net-Net Working Capital of RM-1.38 mean?
Telekom Malaysia Bhd (XKLS:4863) has a Net-Net Working Capital of RM-1.38 as of Mar. 2026. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Telekom Malaysia Bhd According to the industry distribution chart, Telekom Malaysia Bhd ranks #999999 out of 56 companies in the Telecommunication Services industry.
Is Telekom Malaysia Bhd's Net-Net Working Capital too high?
Telekom Malaysia Bhd's current Net-Net Working Capital is RM-1.38. Based on the distribution chart, Telekom Malaysia Bhd ranks #999999 out of 56 companies in the Telecommunication Services industry, which is in the bottom quartile relative to peers. Overall, Telekom Malaysia Bhd has a GF Score™ of 77/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Telekom Malaysia Bhd's Net-Net Working Capital compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, Telekom Malaysia Bhd ranks #999999 out of 56 companies for Net-Net Working Capital. This places Telekom Malaysia Bhd in the lower half of its industry. The industry median Net-Net Working Capital is 8.23. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for a Telecommunication Services company?
The median Net-Net Working Capital among Telecommunication Services companies is 8.23, based on 56 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Telekom Malaysia Bhd For the Telecommunication Services industry, the median Net-Net Working Capital is 8.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Telekom Malaysia Bhd's current Net-Net Working Capital is RM-1.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Telekom Malaysia Bhd stock overvalued right now?
Based on GuruFocus' analysis, Telekom Malaysia Bhd (XKLS:4863) is currently considered Modestly Overvalued. The stock's GF Value™ is RM6.86, compared to a current price of RM7.95 — trading 15.9% above its estimated fair value. The current Net-Net Working Capital is RM-1.38. Telekom Malaysia Bhd's overall GF Score™ is 77/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net-Net Working Capital calculated?
Net-Net Working Capital is calculated from a company's financial statements. For Telekom Malaysia Bhd (XKLS:4863), the current Net-Net Working Capital is RM-1.38 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Telekom Malaysia Bhd (XKLS:4863) Overvalued in 2026?
Based on GuruFocus' analysis, Telekom Malaysia Bhd stock appears to be overvalued.
The current stock price of RM7.95 is trading 15.9% above its estimated GF Value™ of RM6.86.
GuruFocus considers Telekom Malaysia Bhd to be Modestly Overvalued.
Key valuation signals for XKLS:4863:
Net-Net Working Capital: RM-1.38
GF Value™: RM6.86 vs. price of RM7.95 (15.9% above fair value)
No single metric tells the full story. See the XKLS:4863 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Telekom Malaysia Bhd is a telecommunications company. It generates revenue from the Internet and multimedia services, Data services, Voice services, Non-telecommunications related services, and Other telecommunications-related services, in which it generates the majority of its revenue from Internet and multimedia services. The company owns telecommunications infrastructure. The Group has identified a single reportable segment of providing fixed-mobile convergence services, which offers integrated broadband, mobile, and data services, digital content, as well as other solutions. It generates the vast majority of its revenue in Malaysia.
77GF Score
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